Cree (NASDAQ:CREE) has been assigned a $45.00 price target by investment analysts at Deutsche Bank in a research note issued on Wednesday. The firm presently has a “buy” rating on the LED producer’s stock. Deutsche Bank’s price target suggests a potential upside of 19.59% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. Bank of America increased their price target on Cree from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, October 18th. J P Morgan Chase & Co cut Cree from a “neutral” rating to an “underweight” rating and increased their price target for the company from $23.00 to $28.00 in a research note on Friday, October 6th. Williams Capital cut Cree from a “hold” rating to a “sell” rating and set a $27.00 price target for the company. in a research note on Thursday, October 19th. Zacks Investment Research raised Cree from a “sell” rating to a “hold” rating in a research note on Friday, November 17th. Finally, Goldman Sachs Group set a $19.00 price target on Cree and gave the company a “sell” rating in a research note on Wednesday, October 18th. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.50.
Shares of Cree (NASDAQ:CREE) traded down $2.00 on Wednesday, reaching $37.63. The company’s stock had a trading volume of 2,705,100 shares, compared to its average volume of 1,388,329. Cree has a fifty-two week low of $20.50 and a fifty-two week high of $40.24. The company has a quick ratio of 3.61, a current ratio of 4.82 and a debt-to-equity ratio of 0.06.
Institutional investors have recently made changes to their positions in the stock. GAM Holding AG bought a new stake in shares of Cree during the 2nd quarter valued at about $104,000. Riverhead Capital Management LLC boosted its position in shares of Cree by 75.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,426 shares of the LED producer’s stock valued at $134,000 after purchasing an additional 2,326 shares in the last quarter. Strs Ohio bought a new stake in shares of Cree during the 2nd quarter valued at about $140,000. Advisor Group Inc. boosted its position in shares of Cree by 11.5% during the 2nd quarter. Advisor Group Inc. now owns 8,175 shares of the LED producer’s stock valued at $197,000 after purchasing an additional 846 shares in the last quarter. Finally, Garner Asset Management Corp bought a new stake in shares of Cree during the 3rd quarter valued at about $204,000. Institutional investors own 98.74% of the company’s stock.
About Cree
Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.
